MARKETS

Westpac exits energy trading

WESTPAC Banking Corp has announced it will take a one-off charge of A$1.3 billion against its second-half profit as its institutional bank unit has quit energy trading, among other reasons.

Mark Tilly

Flags A$1.3 billion one-off charge

The reduced profit included a $965 million write-down of its Institutional Banking unit after "reducing risk in the division through the exit of energy trading, consolidating our Asian operations and reducing...

Start a free trial to continue reading this article

Already have an account? Sign in here

Subscribe now

MOST POPULAR

OPERATIONS

High Court to rule on Chevron vs CKJV legal saga

EXPLORATION

Vintage Energy avoids more investor scrutiny

POLICY

Cooper Energy preps next phase of legal action against Pertamina

POLICY

Woodside chair foreshadows his hearts and minds pitch to shareholders

RESEARCH

Premium subscribers only

View more

A growing series of reports, each focused on a key discussion point for the energy sector, brought to you by the Energy News Bulletin Intelligence team.